THE OPEN July beans: 11 1/4 lower July meal: 2.70 lower July soyoil: 77 lower July corn: 8 lower July wheat: 1/4 higher The collapse in crude oil futures continues to set the tone for a risk-off macro day of trade across equities and commodities. President Trump announced that the US would purchase oil for strategic reserves to be stored in underground caverns, as a new stimulus package has been agreed upon in Congress. Features of the day included weaker oilshare, and beans gaining on corn. Wheat prices continued to bounce around as headlines talk of restricted exports and perhaps tighter supplies. SOY
Weakness in oilshare and soyoil prices dominated trade as...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
